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MARKETABLE SECURITIES
9 Months Ended
Sep. 30, 2016
Marketable Securities [Abstract]  
MARKETABLE SECURITIES
16.                                      MARKETABLE SECURITIES
 
Debt securities have been classified as trading securities and are carried at fair value based on quoted market prices and classified as Level 1 in the fair value hierarchy. The cost basis for the Company’s debt securities is determined by the specific identification method. Realized and unrealized gains and losses on trading securities are included in other (income)/expenses - net.

The Company sold its investments in debt securities during the third quarter of 2015 for $21.7 million. As of September 30, 2016 and December 31, 2015, the Company held no investments in debt securities. During the three months and nine months ended September 30, 2015, the Company recognized a net loss on trading securities of $0.8 million and a net gain on trading securities of $5.6 million, respectively, resulting from fluctuation in fair value and foreign exchange.